why Source Inventory With Auto Dealership Financing

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Dealer considering the difference between a floor plan and auto bank floor plan

Dealer using auto dealership financing to purchase online inventoryDealers will often say there’s nothing like being able to touch, feel or smell a car before purchasing it to retail. Though physical auction locations like Manheim meet that need, some dealers require more convenience and flexibility. For dealers, one of the most convenient ways for dealers to source inventory is to utilize digital auctions, such as OVE and Simulcast. Paired with auto dealership financing, dealers can easily source inventory quickly and conveniently.

Find Specific Inventory
Often, dealers will have specific inventory in mind that they want to purchase and retail on their lots. Though dealers can look through a local auction’s run list, a digital auction can give dealers a simpler means of searching for particular inventory across a wide number of physical auction locations. In addition, there are other filters dealers can use to find specific inventory, such as make, model and year. These additional search qualifiers make it easy for dealers to find and purchase the inventory their markets desire.

Save Time and Buy Independent of Dealership Location
Dealers that purchase inventory from digital auctions can save time by avoiding the travel time needed to visit a particular auction. Sometimes specific inventory is only available at out-of-state locations. Bidding online not only levels the field for dealers that can’t travel significant distances, but it also gives dealers the option to make purchases from the comfort of their offices.

Simplified Purchasing
When purchasing inventory online with auto dealership financing, the checkout process is further simplified. Dealers can quickly and simply purchase inventory without using their cash on hand. By using a floor plan, dealers can put their cash towards other business expenses.

Delayed Transportation Expenses
For dealers that purchase inventory online, figuring out how the purchased unit gets to your lot used to be a process disconnected from the purchase. Dealers that use NextGear Capital as an auto dealership financing provider have the added advantage of floor planning transportation costs. Our partnership with Ready Logistics gives dealers the opportunity to put the cost of transportation on hold until the vehicle is sold.

For dealers that need extra time in their day to manage operations, sourcing inventory from online auctions give dealers the flexibility and convenience to ensure their lots are fully stocked.